Will what has started as a trickle turn into a flood?
Fuzeon, formally approved by the FDA, produced $7,000 in revenue in the final four days of the first quarter for Trimeris after its formal commercial launch on March 27.
Now, Trimeris (Nasdaq: TRMS) hopes to reach profitability within the next two years as its new AIDS drug hits the worldwide market.
The company announced a $15.9 million loss for the first quarter. The loss of 75 cents a share was 24 cents below preliminary estimates reported by Reuters.
But most attention is being paid to Trimeris’ prospects with Fuzeon being approved just weeks ago.
Dr. Dani Bolognesi, the firm’s chief executive officer, said in a conference call that most major insurance firms and state Medicaid programs would support Fuzeon despite its cost of nearly $20,000 per patient per year.
The company reduced its quarterly loss from $17.7 million a year ago due in part to lower drug trial costs associated with Fuzeon.